Stocks posted modest gain on Thursday after high volatility as investors remained cautious ahead of earnings and dividend declarations by companies which ended their annual year in December last.
The market witnessed see-saw movement several times before closing slightly higher as investors traded cautiously.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 4.56 points or 0.06 per cent to settle at 7,085. The core index added about 34 points in the past three consecutive sessions.
Turnover, the most important indicator of the market, stood at Tk 12.54 billion, which was 9.04 per cent higher than the previous day's tally of Tk 11.50 billion.
Some companies with low performance records made their way into the top gainers' list of the DSE Thursday, riding on a rumour that the gamblers are putting money in the securities.
Shyampur Sugar Mills and Zeal Bangla Sugar Mills, two state-run listed companies under the Bangladesh Sugar and Food Industries Corporation (BSFIC), topped the gainers' list with gaining 9.97 per cent and 9.94 per cent respectively despite incurring huge losses.
Among the top 10 gainers, three were from the "Z" category, meaning they had either failed to provide dividends or closed production.
Market analysts said the market witnessed volatile trading in the past three trading days as investors traded cautiously amid profit booking on sector specific issues.
Favourable macroeconomic indicators prompted some investors to take positions on sector-wise stocks, taking the market index and turnover marginally higher, according to a merchant banker.
Many investors are also seeking opportunities in potential stocks ahead of the December-end declaration, he said.
The DSE Shariah Index also gained 4.72 points to close at 1,517. However, the DS30 index, comprising blue chips, continued to lose, shedding 7.48 points to finish at 2,597.
The investors' activity was mostly concentrated on pharmaceuticals sector, capturing 15.5 per cent of the day's total turnover, followed by engineering (13.6 per cent) and miscellaneous (12.2 per cent) due to the positive surge of latest quarterly earnings of many stocks.
Major sectors witnessed mixed performances. Textile, pharma, cement, and banking posted modest rise while food, financial institutions, telecom and engineering sectors suffered losses.
Gainers took a modest lead over the losers as out of 380 issues traded, 171 advanced, 163 declined and 46 issues remained unchanged on the DSE.
A total number of 266,990 trades were executed in the day's trading session with a trading volume of 286.42 million securities.
The market capitalisation of the DSE dropped to Tk 5,667 billion on Thursday, down from Tk 5,674 billion in the previous session.
Bangladesh Shipping Corporation was the most traded stock with shares worth Tk 869 million changing hands, followed by Orion Pharma, BATBC, Beximco and Bay Leasing & Investment.
The Chittagong Stock Exchange (CSE) also posted marginal rise with the CSE All Share Price Index - CASPI -gaining 49 points to settle at 20,769 and the Selective Categories Index - CSCX-rising 27 points to close at 12,472.
Of the issues traded, 164 advanced, 119 declined, and 73 issues remained unchanged on the CSE.
The port-city bourse traded 27.57 million shares and mutual fund units with a turnover value of Tk 635 million.
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